STOCKS NEWS MALAYSIA-Affin upgrades Malaysia Marine to 'reduce'

Published 10:57 PM ET Sat, 10 Nov 2012

Affin Investment Bank upgraded Malaysia Marine and Heavy Engineering Holdings Bhd to 'reduce' from 'sell' and raised its target price to 4.60 ringgit per share from 4.02 ringgit, on optimism about the oil and gas service firm's future contract flow.

"Taken together the 13 percent fall in share price year to date, we think that further downside is limited," the research house said in a note on Tuesday.